Mastering Risk Management

SUMMARY

As we have said earlier, risk management is about informed decisions, whether they are strategic or operational. To achieve that you need to think about the context in which risk management happens – whether the internal or external environment. The internal environment involves a consistent risk culture and values and consistent governance and leadership if risk management is to do its work effectively. Once you have that, you can agree the elements of the risk management framework, which gives the basis of so many of the chapters of this book – and a successful firm.

We acknowledge the work of The Risk Coalition (www.riskcontrol.org.uk)